a business's bonds sell for $1,107.90. The bond life is 12 years, and the yield to maturity is 6.2%. What must be the coupon rate on the bonds? Assume coupons are paid once a year and the face value is $1,000. (Do not round intermediate calculations. Enter your response as a percentage rounded to one decimal place.);coupon rate- __%;what is the coupon rate and can you show step by step on how to solve answer?
Paper#22398 | Written in 18-Jul-2015Price : $17